March 23, 2017
A deal closed in Daly City, CA for a 1.2-acre vacant parcel. Encino, CA-based AMG & Associates, LLC, which secured entitlements during escrow, plans to start construction later this year on a 206-unit, affordable senior housing project. The sales price of the land was undisclosed.
The large infill site, known as “The Rockpile,” is at 4619 Brunswick St., near the Daly City Bay Area Rapid Transit (BART) Station. The seven-story, high-density project with an ocean view will be developed in a 100% affordable TOD format.
CBRE Capital Markets’ Bruce Paris arranged the sale on behalf of the Church of Jesus Christ of Latter-Day Saints, and AMG.
“This was a very complex entitlement-driven property, and we were able to generate numerous offers for this unique development site,” said Paris. “Ultimately, AMG’s offer, track record and plan were seen as the most advantageous option for AMG, the owner and the community.
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